Kamis, Agustus 07, 2008

Supplementary budget will revive Iraqi economy

The parliamentary approval of the supplementary budget law will help revive the Iraqi economy, activate the reconstruction process, and speed up the provision of services in the country, the deputy chairman of the parliamentary economic committee said.

"The Parliament's success in passing the draft supplementary budget law will speed up governmental efforts aimed at providing services, raising the standard of living of employees and implementing major investment projects. It will also help solve the problem of displaced persons, widows and aggrieved social elements," Younadem Kanna told Aswat al-Iraq - Voices of Iraq - (VOI) by phone.

"It was impossible to end the legislative term without approving the supplementary budget," Kanna added.

Iraq's budget for the year 2008 is estimated at over $48 billion. On Wednesday, the Iraqi Parliament unanimously approved a supplementary budget of $21 billion, bringing the total for this year's budget to $70 billion, the largest in Iraq's history.